For those of you who have been receiving my weekly report or reading my blog regularly, you know I occasionally report on a particular price range. Last week a home in Ledyard closed at $480,000. We haven’t seen a sale in Ledyard this high in quite some time so I took the opportunity to do a little research.
$400,000 sales used to be quite common in Ledyard. There were 29 sales in 2005 closed at $400,000 or more, 17 in 2006, 26 in 2007, and 11 in 2008. There were no sales in 2009 over $400,000 and only 1 sale in 2010. There have been 5 sales far in 2011 although 3 of those were sold at exactly $400,000. Sadly, most of those that paid over $400,000 between 2005 and 2008 will take a huge loss if they try to sale their homes today.
Ledyard Real Estate Statistics
Below you will find Ledyard Real Estate statistics provided by Real Market Reports. This report, dated 8/15/2011, includes all sales in Ledyard including condominiums and mobile homes. As a result, the numbers will differ slightly from my reports which were updated today and show residential single family homes only.
Ledyard Real Market reports that a total of 70 contracts have closed in the last 6 months with an average sold price of $223,011 and average days on market of 91. The average list price (asking price) of homes currently on the market is $265,300.
The report describe the market as "somewhat slow" with the $200,000 - $250,000 price range containing the highest # of sold listings.
A total of 42 listings have expired in that same time period. The $150,000 - $200,000 price range has the highest number of expired listings at 10 properties. Listings may expire for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time.
Ledyard Snapshot
Number of Homes Sold in 2011: 88
There were 139 residential home sales in Ledyard in 2010.
There were 149 residential home sales in Ledyard in 2009.
There were 143 residential home sales in Ledyard in 2008.
There were 213 residential home sales in Ledyard in 2007.
The highest priced home to sell in 2011: $480,000
There were 5 new listings, 4 pending sales, and 2 closed sales in the past week.
The lovely home pictured above is my listing located on 12 Eska Drive.
Listings and sales reported by the members of the CT Multiple Listing Service, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.